Scholarships & bursaries

We want to help members pursue their goals and achieve great things.

Empowering students through education

School costs should never stop a student chasing their dreams. At Gulf & Fraser, we’re proud to offer a number of scholarships and bursaries to help members achieve their education goals.

Million Dollar Bursary

Bursaries

Million Dollar Bursary

Today's youth are tomorrow's leaders. A solid education is invaluable and it's an investment we're proud to make through our Million Dollar Bursary. Applications are now OPEN!

Apply Now

2025 Eligibility Criteria

To be eligible for this bursary you must:

Apply by February 28, 2025
Be 17-24 years old at any point in 2025
Be a member of Beem Credit Union (new members welcome!)
Use Beem Credit Union (GFCU Savings, Gulf & Fraser, Interior Savings and North Peace Savings are trade names of Beem Credit Union) as your primary banking account* (See below).
Keep your account in good standing (see below)
Live in the province of British Columbia
Be attending full-time studies in a trade, diploma, or degree program at a designated post-secondary institution in 2025 or 2026
Incur tuiton costs of $1,000 or more in a single semester
Be a first-time recipient of this bursary

Qualifying & Claiming Your Bursary | FAQs

When will I know if I'll receive the bursary

We’ll send you an email in mid-May to let you know if you have qualified. Please remember, *you must continue to use your account for your everyday banking needs (completing multiple transactions per month, not including e-transfers) until you claim your bursary.

Didn't receive the email? Check your junk email folder or email us at milliondollarbursary@beemcreditunion.ca

How are applicants qualified?

Bursary recipients will be determined in this order:

Has the applicant met all of the eligibility criteria (mandatory)

If there are more than 1,000 applicants:

Bursaries will be awarded based on the order in which the applications were received.

How can I use Beem Credit Union for my everyday banking?

Make sure you are using your account consistently for multiple transactions* and purchases with your MemberCard. Please refrain from making small transfers between your accounts as it does not count as ‘everyday banking’ activity.

Other great ways to meet this requirement are: deposits, CRA direct deposit for government payments, payroll direct deposit, or setting up bill payments (like rent, loan payments, cell phone, utilities etc.) to automatically come out of your account each month until your award is paid.

If you are still worried you may not be able to qualify, please contact us directly milliondollarbursary@beemcreditunion.ca or call the Interior Savings Member Service Centre 1-855-220-2580, North Peace Savings Member Service Centre 1-877-787-0361 or Gulf & Fraser Member Hub 1-866-736-4334.

How do I keep my account in good standing?

Absence of overdrafts, delinquencies, fraud etc. Basically, don’t spend money you don’t have and, if we’ve given you a loan, please pay it back as scheduled.

What if I don't currently live in British Columbia?

Exceptions may be made if you are temporarily living outside our region to attend school or travel or if you have been a long-standing, loyal member for over 3 years.

What if I missed the application deadline?

Visit our website to find out if the bursary program will be offered again next year. You may also want to check out the other bursary programs we support.

When are the bursaries paid?

In mid-May 2025 we will begin accepting your proof of tuition payment receipts and proof of enrollment to verify your program meets our criteria. Bursaries will be paid directly into members’ accounts between September 1, 2025 and June 1, 2026. Please allow up to two weeks for processing your award after you have submitted the correct documents to milliondollarbursary@beemcreditunion.ca. In the meantime, please remember to keep your account active per the eligibility requirements.

Can I defer my bursary?

Bursaries not claimed prior to June 1, 2026, will no longer be held. There are no exceptions after this point. Visit our website for more info on bursary awards for the following year.

What do I need to submit as proof of tuition payment?

In May, we will let you know via email if you’ve qualified, and we will provide a link to upload your tuition receipt. You can also email your tuition receipt to milliondollarbursary@beemcreditunion.ca or drop it off at any Interior Savings, North Peace Savings, Gulf and Fraser, or GFCU Savings branch.

Click here for acceptable proof of tuition.

What if my tuition has been paid by other awards?

No problem (and nice work)! It doesn’t matter whether you paid forit yourself or had help from a family member or other financial awards.

Why is there an age limit?

The intent of the Million Dollar Bursary program is to encourage young students to pursue post-secondary and to not put it off for too long.

As a parent, how can I find out about my child's bursary status?

If you are not joint on your child’s account, we can only discuss the status of their bursary application with you if they included your contact information in their bursary application. If you wish to be added after-the-fact, please have your child contact Interior savings Member Service Centre at 1-855-220-2580, North Peace Savings Member Service Centre at 1-877-787-0361 or Gulf & Fraser Member Hub at 1-866-736-4334 to book an appointment in branch.

Are there other bursaries I can apply for?

Credit Union Foundation of BC bursary program. Students can receive a bursary every year and credit union members may be eligible to receive two bursaries per year. There are three application periods per year and bursaries are awarded based on financial need. Learn more at: https://cufoundation.org/student-application/

We also fund Life LongLearner bursaries at Okanagan College, Thompson Rivers and UBC Okanagan which are intended for mature students who have dependents (see your school’s awards office to apply).

We fund Northern Lights College every year for two $1,000 scholarships and award $260 to the top student enrolled in the business management program.

Through the Phoenix Foundation of the Boundary Communities, we also offer scholarships up to $1,500 per student in support of post-secondary education.

*Beem Credit Union reserves the right to apply its discretion in determining whether you are eligible. The intent of this program is to reward students who use Beem Credit Union as their primary financial institution and help contribute to our success. Applicants who simply transfer small sums of money in and out of the account from a different financial institution may be disqualified. Please refer to our terms and conditions for more information.

Bursaries

Gulf & Fraser is proud to help BC students achieve their goals through the Credit Unions of BC Bursary Program.

Who can benefit

BC undergrads who need a helping hand with school costs.

See full eligibility criteria

Eligibility criteria:

Live in BC and be a Canadian citizen, permanent resident or designated as a protected person
Demonstrate financial need
Be an undergraduate student* at a public Canadian post-secondary school**
Have proof you are enrolled in an academic, vocational, technical, or technological program of study
Provide transcripts and tuition receipts from your program
Provide a recent letter of reference from a credit union, coach or other individual that speaks to your community involvement and shared credit union values

*Please note: graduate and post-graduate students are not eligible

**Applicants attending accredited private institutions will only be considered if their chosen program is not available at a public institution. In this case, applicants must provide a statement as to why they are not attending a public institution, as well as a receipt for tuition.

Which schools & programs are eligible

Academic, vocational, technical, or technological programs at a public Canadian post-secondary school*.
*Applicants attending accredited private institutions will only be considered if their chosen program is not available at a public institution.

How to get a bursary

The application period for a Credit Unions of BC bursary is open three times a year:

Winter: Jan 1 – Feb 15
Spring: May 1 – June 15
Fall: Sept 1 – Oct 15

Ready to apply? Submit your bursary application

Hear what our members have to say

Katrina Heinonen

“My first memories of Gulf & Fraser were going into the branch… I liked going—and still do. It is always a positive experience. Everybody is so friendly and helpful.”

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